Air T Inc (AIRT) Financial Statements
Industry: Air Courier Services
In fiscal 2026, Air T reported revenue of $327.1M, up 12.1% from $291.9M the year before. Net income was $78.0M (a 23.8% net margin), or $28.85 per diluted share. Operating margin was -3.4%. Operating activities generated -$25.0M of cash, leaving -$41.5M of free cash flow. At fiscal year end, Air T held $409.1M in total assets against $317.9M in total liabilities, including $20.3M of cash and equivalents.
Open the full interactive Air T financials → Quarterly statements, key ratios, valuation history and price charts.
Air T Key Stats
| Share Price | $31.20 |
|---|---|
| Market Cap | $84.1M |
| P/E Ratio | 1.1 |
| Revenue YoY Growth | +12.1% |
| 52-Week Range | $18.35 – $34.26 |
| Shares Outstanding | 2.7 million (basic, 2027 Q1) |
Air T Income Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|
| Revenue | $175.1M | $177.1M | $247.3M | $286.8M | $291.9M | $327.1M |
| Cost of Goods Sold | — | — | — | — | $289.9M | — |
| Gross Profit | — | — | — | — | $1.9M | — |
| Operating Income | -$9.2M | $8.8M | -$4.4M | $1.3M | $1.9M | -$11.2M |
| Pre-Tax Income | -$11.8M | $13.4M | -$11.4M | -$4.0M | -$5.0M | $86.0M |
| Income Tax | -$3.4M | $1.2M | $432,000 | $729,000 | $423,000 | $1.4M |
| Net Income | -$7.3M | $10.9M | -$12.3M | -$6.8M | -$6.1M | $78.0M |
| Diluted EPS | -$2.53 | $3.78 | -$4.32 | -$2.42 | -$2.23 | $28.85 |
Air T Quarterly Results
| 2026 Q2 | 2026 Q3 | 2026 Q4 | 2027 Q1 | |
|---|---|---|---|---|
| Revenue | $64.2M | $71.1M | $120.9M | $115.5M |
| Net Income | $4.4M | -$2.5M | $77.7M | -$15.8M |
| Diluted EPS | $1.61 | -$0.91 | $28.75 | -$5.86 |
Air T Balance Sheet
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.0M | $5.6M | $5.8M | $7.1M | $5.9M | $20.3M |
| Current Assets | $105.8M | $128.2M | $116.6M | $102.9M | $78.5M | $160.0M |
| Total Assets | $140.8M | $207.6M | $189.6M | $177.2M | $173.8M | $409.1M |
| Current Liabilities | $28.2M | $30.9M | $64.3M | $46.8M | $47.7M | $95.5M |
| Total Long-Term Debt | $87.5M | $135.8M | $125.1M | $112.9M | $110.3M | $208.2M |
| Total Liabilities | $119.4M | $171.1M | $163.9M | $158.4M | $168.2M | $317.9M |
| Shareholders' Equity | $13.7M | $24.6M | $11.9M | $4.8M | -$3.2M | $79.8M |
Air T Cash Flow Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$1.8M | -$33.1M | $16.9M | $17.2M | $23.5M | -$25.0M |
| Cash From Investing | $2.5M | -$33.4M | -$6.2M | -$2.5M | -$20.2M | -$21.8M |
| Cash From Financing | $71,000 | $59.3M | -$12.4M | -$13.9M | -$4.8M | $65.4M |
| Free Cash Flow | -$5.7M | -$34.6M | $15.7M | $16.1M | $22.4M | -$41.5M |
Figures from Air T's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Air T financials page for every line item.
Air T Company Profile
| Ticker | AIRT |
|---|---|
| Exchange | Nasdaq |
| Industry | Air Courier Services |
| Headquarters | Charlotte, North Carolina |
| Incorporated in | Delaware |
| Fiscal Year End | March 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0000353184 |
Frequently Asked Questions
What was Air T's revenue in fiscal 2026?
Air T (AIRT) reported revenue of $327.1M for fiscal 2026.
What is Air T's annual revenue history?
Air T's annual revenue by fiscal year: 2021: $175.1M; 2022: $177.1M; 2023: $247.3M; 2024: $286.8M; 2025: $291.9M; 2026: $327.1M.
What was Air T's net income in fiscal 2026?
Air T reported net income of $78.0M for fiscal 2026.
What was Air T's earnings per share (EPS) in fiscal 2026?
Air T's diluted EPS was $28.85 for fiscal 2026 (adjusted for any later stock splits).
How much free cash flow did Air T generate in fiscal 2026?
Air T generated -$41.5M of free cash flow in fiscal 2026.
What was Air T's revenue last quarter?
In its most recent reported quarter (2027 Q1), Air T reported revenue of $115.5M.
How much debt does Air T have?
Air T reported $208.2M of long-term debt, including the current portion, at the end of fiscal 2026.
How many shares of Air T are outstanding?
Air T reported a weighted average of 2.7 million basic shares outstanding in 2027 Q1.
What is Air T's market cap?
Based on its latest closing price, Air T (AIRT) has a market capitalization of about $84.1M.
When does Air T's fiscal year end?
Air T's fiscal year end, as registered with the SEC, is March 31.
Where is Air T headquartered?
Air T lists its business address in Charlotte, North Carolina in its SEC filings.